He said Khalid, also the former Permodalan Nasional Berhad (PNB) CEO who is the Parti Keadilan Rakyat (PKR) candidate in the Ijok state by-election, was disappointed for having failed to acquire a 20 per cent stake in plantation giant Guthrie.

"Khalid was angry with us because he had wanted a bigger equity share. This is not slander, we have proof. Khalid only wanted to hog the wealth for himself," he said when opening an office of the Selangor menteri besar in Ijok town near here.

Najib said that since 1994, Khalid had the desire to own a 20 per cent personal stake in Guthrie and had initially asked for a 6.5 per cent equity in the company.

"As the deputy prime minister, I received much information from various sources that were brought to my attention. For that amount (6.5 per cent) of shares, he (Khalid) had to seek a loan of RM175 million," he said.

Khalid had held the post of Guthrie CEO from 1995 to 2003. He joined PKR last year and holds the post of treasurer-general.

Najib said that after obtaining the 6.5 per cent stake, Khalid then sought to own 13.5 per cent more equity in Guthrie.

"This is the truth. He had difficulty to settle his loan (to obtain the remainder of the shares). Then he asked for an extension of the payment period but could not pay according to that schedule. We extended (the period) again but he could not pay as well.

"Finally, when the term was up he was unable to acquire the shares and was angry with the BN government," he said.

Najib said Khalid's animosity for the BN was not based on principles or policies but on his failure to own all of the 20 per cent stake in Guthrie, which rightly should be used for the welfare of the poor in the country.

"Who says he took a small bite; looks like he bit off a huge chunk. Guthrie shares should by right be utilised for the unit trusts for the people, both Bumiputeras and non-Bumiputeras," he said to applause from BN supporters.

Najib said the interesting thing was the role of former Deputy Prime Minister Datuk Seri Anwar Ibrahim, who is now PKR adviser.

He said Anwar was the person who wrote to the PNB chairman then, Tun Ismail Ali, giving approval for Khalid to obtain the shares.

"The person who wrote to Tun Ismail was Datuk Seri Anwar Ibrahim. If we want to talk about it, there's a lot to talk about; more interesting, more colourful.

"Let's face it, the people of Ijok should not be conned like this," he said.

Najib said the matter he had revealed was known to and could be verified by the first PNB CEO Tan Sri Mohd Desa Pachi, who was present there tonight. Mohd Desa was seen nodding when Najib turned towards him.

The deputy prime minister then called on the people of Ijok to ensure victory of the BN candidate, K. Parthiban, on polling day on Saturday.

The by-election is a straight fight between Parthiban, 38, and Khalid, 61. It is being held following the death of BN Assemblyman Datuk K. Sivalingam, 59, on April 4.

Even if it's true, he wanted to buy the equity (i.e pay for it) not goyang kaki and get multi-million commission (read submarine, sukhoi). Also does it mean that by joining opposition he can accumulate more wealth? He should have joined UMNO and help them ripped off Guthrie and PNB.